The new London Housing and Property Company will inherit land now owned by the London Development Agency to build affordable and private homes.

Other London local authorities will be invited to release land for development, once the new company is up and running.

The Mayor hopes to harness private sector commercial acumen with the public sector’s ability to de-risk development to deliver complex housing regeneration projects.

A formal public notice setting out details of the plan and inviting interest from private sector developers is expected to be published this October. But interested firms can contact the London Development Agency for further information now.

Like the Housing and Communities Agency, the new London housing and property company, is expected to establish a panel or framework of contractors and developers to build out major schemes.

Proposals suggest the new housing company could use contractors who prequalified for the HCA Panel like Laing O’Rourke, Carillion, Galliford Try, Kier, Skanska and Wates.

Already up to six major LDA sites in East London have been earmarked to develop 8,000-11,000 homes.

They include the 2,500 homes Parcel Force site, 800 homes at Silvertown Way,  5,000 homes at Silvertown Quays, 250 homes at Gallions Park and a major site in South Dagenham.